The RDR & The Number of Qualified Independent Financial Advisors

The following article on the numbers of people who will have a Statement of Professional Standing from 1st January 2013 is a very interesting read. It would appear the FSA’s predictions for the numbers of independent financial advisors and others in the selling of financial products is lower than the lower level the FSA predicted. Many people outside of the industry think it is a good thing to have fewer independent financial advisors as there will be less competition. I am concerned that there will be a problem of our industry’s critical mass, and that taking advice from an IFA or Chartered Financial Planner will become the preserve of the economic elite who have a close relationship with a firm of Chartered Accountants.

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